AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) announced that Tuan Ha-Ngoc, after 13 years of service and leadership at AVEO, has stepped down as Chairman and a Director of the Company’s board of directors, effectiveNovember 6, 2015, to pursue interests outside the Company. Henri A. Termeer, Lead Outside Director of AVEO, has assumed Board leadership responsibilities.

“Tuan has played a fundamental role in building AVEO’s business over his long tenure at the Company,” said Mr. Termeer. “We thank him profoundly for his leadership of the Company and wish him the best in his future endeavors.”

“It has been a privilege serving in a leadership role through AVEO’s founding and development during my tenure, and contributing to its mission of improving the lives of patients with cancer and other serious unmet medical needs,” said Mr. Ha-Ngoc. “I believe that the Company’s current strategic direction, and the progress made over the last year, will help AVEO realize its full potential over the long-term.” (Original Source)

Shares of AVEO Pharmaceuticals closed last Friday at $1.23. AVEO has a 1-year high of $3.50 and a 1-year low of $0.61. The stock’s 50-day moving average is $1.24 and its 200-day moving average is $1.54.

AVEO Pharmaceuticals Inc is a biopharmaceutical company. It is involved in discovering, developing and commercializing novel cancer therapeutics.